The future of the blockchain is dark.
A new protocol has launched on the Ethereum blockchain that allows people to create and place bets on real-world events — i.e., prediction markets. And you better believe that a so-called "assassination market" for Donald Trump has already popped up.
Created by the non-profit Forecast Foundation, the open-source Augurprotocol launched on July 9 and promised a revolution in the world of prediction markets. While the idea of a prediction market is itself not new, creating a decentralized version of that market on the Ethereum blockchain is. Theoretically, it means that whatever markets users decide to create are out of the control of any one organization.
In other words, once the markets are up, they're up.
"Decentralized technology means decentralized control," explains the Augur site, "no one person can single-handedly change Augur or shut it down."
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